SEOUL, Feb. 20 (Korea Bizwire) – Global steelmaker POSCO said Monday that its output of advanced electrical steel for motors will double following the construction of its new facility. The company said its capacity for hyper non-oriented electrical steel has come to 160,000 tons per year following the construction of its latest production facility in [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korean steel and chemical products, the country’s leading export items, have increasingly become targets of import restrictions in other countries, a trade agency said Wednesday. Reports sent in by overseas offices of the Korea Trade-investment Promotion Agency (KOTRA) showed that of the 19 new investigations launched against products [...]
SEOUL, Dec. 16 (Korea Bizwire) – POSCO Co., South Korea’s leading steelmaker, and local rivals are moving to raise steel prices in tandem with a rise in the prices of raw materials, industry sources said Friday. According to the sources, POSCO plans to raise hot-rolled steel plates by 120,000 won (US$102) per ton next month, [...]
SEOUL, March 11 (Korea Bizwire) – South Korea’s steelmaking giant POSCO plans to cut its costs by 1 trillion won (US$838.1 million) this year as part of the ongoing efforts to enhance overall management efficiency, its head said Friday. POSCO Chairman Kwon Oh-joon told investors at a shareholders’ meeting in Seoul that the steelmaker will save [...]
SEJONG, May 15 (Korea Bizwire) — South Korea’s trade commission said Friday that it will close an anti-dumping probe into steel beam products made by seven Chinese companies as they have agreed to jack up their prices voluntarily. In late July 2014, the Korea Trade Commission (KTC) started an anti-dumping investigation into H-beam imports from [...]
SEOUL, Mar. 16 (Korea Bizwire) — Several current and former executives of POSCO Engineering & Construction Co. (POSCO E&C) and its parent steelmaker POSCO will be summoned soon for questioning over their alleged role in the creation of an overseas slush fund, prosecutors said Monday. Late last month, the construction arm of South Korea’s top [...]